AFX Markets Ltd, trading as STO, Quantic Prime, tradealot, XSecurities, eloFX
Failed 24 August 2021
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15 Mar, 2021
FSCS has completed its initial review of AFX Markets Ltd. We have concluded that customers may be able to receive compensation from FSCS regarding the losses suffered.
We will shortly be asking clients of AFX Markets Ltd to submit claims via our online claims service. Owing to the complexity of the AFX Markets failure we will review claims on a case-by-case basis. Also, customers are likely to be asked to complete a supplementary form in relation to AFX.
We’re sorry that it’s taken some time to reach this stage and we’re grateful for your patience.
FSCS is free to use and you don’t need to use a representative to make a claim. If you claim with us directly you will receive 100% of any compensation you’re due
28 Aug, 2019The Special Administrators will carry out an assessment of the client money held by the firm to confirm the current position. After this, the Special Administrators will work to return as much client money as possible to customers, as quickly as possible.FSCS is working closely with the Special Administrators to determine the firm’s position in regards to client money. At this stage there is no need for customers to make a claim with FSCS. Instead, customers should subscribe to this page to receive the latest updates on FSCS's handling of the AFX failure.
The situation involving AFX is complicated. We have worked very closely with the Joint Special Administrators over this period. It has taken some time to work through the various issues. This work has led us to conclude that a case by case approach is the right one to adopt here.
It is going to take a few weeks to get the process and some of the materials ready to ensure that claims can be dealt with efficiently. We will make a further announcement when we are ready to begin the application process.